SK3 Group Inc. (SKTO)

[Escabar]

Banking is one of the toughest areas for the cannabusiness... Even some of the investor groups/PE funds have had to find new accounts after having their accounts closed.

Yes credit unions/small banks are people's best bet. No the patient wouldn't need to be apart of the CU to pay (still no CC processing).

The way these 'Closed-loop' banking options (SimplePrePay) work, the patient would either make a ACH/Wire deposit into the 'Card' account from their bank or deposit cash. Then use the card to purchase products/services from the MMJ business. The business would then be able to quickly deposit that money rather than have cash in a safe.

Talking with people at the conference, these systems aren't adopted well by clients and end up being discontinued.

Talking with Brandon Kennedy from Privateer Holdings, he mentioned banking should clear up in 6-8 months.